Using Your Cell Phone as a Payment Device

Many within the cellular industry are predicting mobile payment as the next big thing to hit the US market. The technology is already being used widely in Japan to pay for an array of goods and services such as: train tickets, airline tickets, music, dvds, and clothing. The Japanese i-mode FeliCa phone even allows users to wave their handsets over a sensor to pay for transit fares, buy goods, or confirm personal identification. Mobile payment devices are also being used in Europe and China.